Charles River Laboratories International (NYSE:CRL) Shares Gap Up on Strong Earnings

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $115.41, but opened at $141.03. Charles River Laboratories International shares last traded at $134.46, with a volume of 1,274,674 shares trading hands.

The medical research company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.06 by $0.28. The company had revenue of $984.17 million for the quarter, compared to analysts' expectations of $942.34 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $2.27 earnings per share.

Wall Street Analyst Weigh In

CRL has been the subject of a number of analyst reports. William Blair downgraded Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Morgan Stanley reduced their price target on Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. UBS Group reiterated a "neutral" rating and issued a $185.00 price target (down previously from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Finally, Redburn Atlantic raised shares of Charles River Laboratories International from a "sell" rating to a "neutral" rating and set a $188.00 target price for the company in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of "Hold" and an average price target of $176.00.

Insider Buying and Selling

In other news, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the completion of the sale, the executive vice president now directly owns 20,013 shares of the company's stock, valued at $3,252,112.50. This trade represents a 18.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Birgit Girshick purchased 1,514 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $164.63 per share, with a total value of $249,249.82. Following the transaction, the chief operating officer now owns 55,058 shares of the company's stock, valued at $9,064,198.54. This trade represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles River Laboratories International

Several large investors have recently modified their holdings of the stock. Rothschild Investment LLC increased its position in Charles River Laboratories International by 480.0% in the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock worth $26,000 after buying an additional 144 shares during the last quarter. HM Payson & Co. bought a new stake in Charles River Laboratories International in the 1st quarter valued at about $31,000. Pinnacle Bancorp Inc. lifted its holdings in Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock valued at $35,000 after purchasing an additional 65 shares during the last quarter. Optiver Holding B.V. bought a new position in Charles River Laboratories International during the fourth quarter worth about $37,000. Finally, GeoWealth Management LLC increased its stake in shares of Charles River Laboratories International by 311.5% in the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock worth $46,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Stock Down 1.8 %

The stock's 50 day moving average is $138.40 and its 200 day moving average is $166.46. The company has a market capitalization of $6.82 billion, a PE ratio of 925.60, a PEG ratio of 4.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41.

About Charles River Laboratories International

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).